As a newbie in the cryptocurrency, one of the first coins that I invested was Monacoin on 23 November 2017.
I installed Coinomi onto my mobile and I purchased this Japanese cryptocurrency called Monacoin.
Monacoin was created on 1st January 2014 that was a Peer-to-Peer payment system.
It was considered as the national cryptocurrency payment system that was accepted by shops in Japan online as well as offline.
Since it had real application, I figured it had potential for investment especially there was a guy in Japan who bought a land in Nagano using Monacoin then.
The price of Monacoin was $1.45 when I was preparing for this post.
Above was screenshot from coinmarketcap
Based on the screenshot below, I invested a total of US$121.86 on 23 Nov 2017.
The above screenshot was taken from my history of purchase in my Coinomi app.
Since I was a newbie so it was considered quite a sum for me especially I was in financial difficulty then.
I did make some money because of this coin as an early experience but I also lost money with other coins then.
Those who were investing in cryptocurrency would know that the price of cryptocurrency changes quite quickly in 2017.
This coin actually did reach a peak of $16.45 on 06 December 2017.
The above was screenshot from coingecko
I was looking at my mobile phone and I noticed that I did sold some of the coins on 06 December 2017 during its peak.
It was pretty cool to earn some money as a crypto newbie then.
It is currently still quite a nice coin for investment since it has practical use in Japan.
Just this year 2020, it managed to reach US$2.72 on 18 Feb 2020.
Above was screenshot from coinmarketcap
The current price is about half of US$2.72 actually.
It looks like Monacoin is still a nice investment.
We can also easily find a couple of videoclips explaining about this coin.
Below is one of them.
Video Source
Every investment will have certain risk so this post is just a short sharing of my investment experience as a crypto newbie.
A good research of the background of the coin before investing will certainly be really helpful.
Hope you enjoy reading this post about this Japanese coin that was way ahead in its practical use than many other ALT coins.
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that. All images and pictures were mainly taken from coinmarketcap, coingecko and coinomi.
